Lying for Cheaper Premiums?

Lying for Cheaper Premiums?

Friday 13th July 2007

Survey results out this week highlight that one in 10 individuals have lied to car insurance providers in order to save money on their premium. Common lies include age, address and information on overnight parking.

The survey was sponsored by Uswitch and also found that 3% of insured drivers interviewed admitted that they had not declared bans for speeding or drink driving.

Uswitch as keen to point out that insurance lying when taking out an insurance policy can lead to policies becoming invalidation meaning that insurers will not pay out in the event of a claim being made.

Over 2,500 drivers were interviewed for the survey and whilst many said that they would lie to received a cheaper premium there were many who had made genuine mistakes as a result of complicated forms and unclear definitions of terms used by insurers.

The Association of British Insurers has also warned this week that uninsured drivers added an average of £30 a year to the premiums of honest motorists.